Sharia Compliant Lending
Islamic Loans

Since March 2016, EFCO has been providing ethical finance to Muslims in New Zealand in accordance with an Islamic framework. Our Sharia-compliant financing products are committed to funding economic activities that support individual wellbeing, enable businesses to thrive, benefit communities and make efforts towards building a better future.

This means that we do not provide finance for:

  • Gambling services
  • Weapon manufacturing
  • Pornography
  • Pork products
  • Production of alcohol, tobacco and illegal drugs
  • Business services involving speculation practices

We are Sharia certified and compliant with Islamic financing principles that involve financing solutions in accordance with Sharia. This means that our Islamic finance products are ethical and highly socially responsible.

We aim to provide Kiwi Muslims with access to the funding necessary to achieve personal and business goals. At EFCO, we offer a solution that is compliant with Islamic beliefs, so that our Muslim clients have access to a service that accommodates both religious principles and financial necessity.

Product Coverage

  • Murabaha
  • More products coming soon

Product Features

  • Ultra-ethical solutions
  • Transparent, flexible and innovative approach 
  • Sharia Compliance Certified

Sharia Advisory Firm

We have received Sharia certification as a mark of compliance from Shariyah Review Bureau (SRB), a Bahrain-based Sharia advisory firm licensed by the Central Bank of Bahrain.

SRB is the corporate world’s leading Sharia advisor, with a scholarly presence in over 21 countries across the US, Europe, Africa, GCC and Asia. They offer professional Sharia advisory and audit services to financial institutions including banks, insurance operators, asset management firms and Fintechs.

They oversee and supervise our financial products in a Sharia compliant manner. With their guidance, we have become the first enterprise in New Zealand offering diverse Sharia compliant financial products guided by ethical principles.


Sharia Board

Our Sharia Board members, Mufti Muhammad and Mufti Irshad, are highly experienced representatives from the Shariyah Review Bureau in charge of ensuring the Sharia compliance of our financial products.
They work closely with us to ensure that our asset financing, personal loan and debt-based offerings follow Sharia regulations.

Mufti Muhammad Board Member

Shaikh Muhammad has over a decade of experience as a Sharia consultant and academic in international Islamic finance.

Mufti Irshad Board Member

Shaikh Irhsad is a member of the Sharia Board of the Standard Chartered Bank of Pakistan and has advised banks and financial institutions worldwide.


Charities We Support

We don’t eye on penalty charges for revenue. We apply late payment charges intended as deterrents in the event that a client defaults on a payment. We do not consider these payments as company income and donate it to our chosen charities, Variety New Zealand and the Umar bin Khattab Learning Academy (UKLA).

Variety New Zealand is dedicated to supporting initiatives to eradicate poverty and transform the lives of disadvantaged Kiwi children. They provide kids access to a happier, healthier childhood and build the foundation for a better future.
The UKLA is dedicated to enabling children’s access to learning. They provide children an environment in which they can develop intellectual potential, grow, and excel.

Talk to us now


‘Sharia’ refers to the Islamic code of conduct and the framework involved in practising Islam.

Islamic finance refers to financial transactions which align with the principles of Islam.

Islamic financing is available to all – Muslims and non-Muslims alike.

Islamic financing differs from conventional financing options in several ways. 

As Islamic financing is based on ethical principles and the values of Islam, interest, gambling, uncertainty in contracts and the funding of businesses and services seen as harmful are prohibited.

As an alternative method of financing, Islamic finance is focused on adding value to individuals, communities and institutions. 

It never supports activities or businesses that are morally, spiritually, socially and financially harmful, making it a highly ethical option for meeting your funding needs.

EFCO uses an external Shariah advisory firm and two dedicated Sharia board members who review and oversee all our operations for Sharia compliance.

Riba refers to any premium charged on a lending agreement or exchange of monetary assets on a deferred basis.

Islam views interest as unjust and exploitative.

Under Islam, profit is gained from investing, trading and leasing, whereas interest is acquired through lending.

Islamic finance uses trade-based and lease-based contracts. As a result, the additional amount reflects a mark-up on the asset being financed.

This rate reflects several things, including the mark-up mentioned above. It is used to depict the profit rate.

Yes. Profit is viewed as lawful under Islam and Sharia guidelines.

Islamic finance is still a niche sector in New Zealand, which means greater costs are involved. As the sector grows, economies of scale will allow associated costs to reduce.

Islamic finance is truly Islamic as long as it is practised in the manner described by the Qur’an and Sunnah.

This is a common misconception, but the answer is no. There are actual differences in the underlying structures.

Any fees charged are used to cover actual expenses. We donate any excesses to charity.

No. Islamic lending principles require us to disclose all fees, charges and profit amounts. That means that the repayable amount will not change during the term of your loan.

Yes. Sharia allows Islamic financers to charge fees as long as the reason for charging them is permissible.

We provide funding for all activities except:

  • Gambling services
  • Weapons manufacturing
  • Pornography
  • Pork products
  • Alcohol, tobacco and illegal drugs
  • Business services involving speculation practices

In Islamic Finance, Murabaha refers to cost-plus financing.

Yes. Financing is permitted under the principles of Islamic finance.

Yes, we allow you to repay your loan early. There is no associated penalty if you do so.

If there is a need to, then yes.

We are 100% funded by our shareholders.

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